By Amin Kef Sesay
Leonoil Limited, a prominent Sierra Leonean-owned oil and gas company, has been announced as the Headline Sponsor of the upcoming Sierra Leone Diaspora Investment Conference. The event is set to be the largest gathering of Sierra Leonean and American business leaders, policymakers and investors in North America, aiming to harness the potential of the Diaspora beyond remittances.
“We are thrilled to have Leonoil as our Headline Sponsor, supporting this important initiative to boost Diaspora investment in Sierra Leone,” said Vickie Remoe, CEO of VR&C Marketing and Founder of Make Sierra Leone Famous, the firm organizing the conference.
Vickie Remoe, praised Leonoil, led by Sierra Leonean-American business Executive, Ibrahim Cole, for its significant contribution to the nation’s economy. “Leonoil is a beacon of Sierra Leonean excellence,” she said. “For over 30 years, they’ve invested in local talent, ensuring the growth of Sierra Leone’s oil and gas industry. Their recent expansion into the mining sector is a game-changer.”
In August, Leonoil made history by acquiring Sierra Rutile, the world’s largest producer of rutile, a mineral used in titanium production. This acquisition marks a shift in ownership from foreign entities to local hands, a milestone for the country. Since its inception in 1971, Sierra Rutile had been under foreign ownership, most recently held by Australian interests.
In a LinkedIn post, Ibrahim Cole highlighted the significance of this achievement, stating, “Today is a historic day for Sierra Leone as Leonoil completes the acquisition of a publicly traded company with over five decades of mining operations. We look forward to building strong partnerships with the Government and key stakeholders to achieve shared goals.”
Founded in 1994, Leonoil is one of the largest locally-owned companies in Sierra Leone, specializing in petroleum products such as automotive gas oil, petroleum motor spirit and lubricants. The company operates 24 fuel stations across the country and manages Sierra Leone’s largest and most advanced fuel terminal. Leonoil serves a wide range of clients, including international organizations like the World Bank and major mining companies such as Seawright Mining and FG Gold.
Leonoil’s sponsorship of the Diaspora Investment Conference aligns with its broader mission to foster development in Sierra Leone. The company aims to encourage the Diaspora to invest directly in the country’s growing economy. “Our success is deeply connected to Sierra Leone’s progress,” Ibrahim Cole emphasized. “We invite the Diaspora to see beyond the challenges and focus on the opportunities that can drive meaningful change for the future of our country.”
The Sierra Leone Diaspora Investment Conference will take place on October 19th, 2024, at the DoubleTree Hotel by Hilton in Gaithersburg, Maryland. The one-day event will bring together 200 leaders from various sectors, including business, finance and policy, to discuss and promote strategies for economic growth in Sierra Leone. It will be the largest gathering of Sierra Leonean-American entrepreneurs and investors in North America.
Attendees will have the chance to network with fellow entrepreneurs, investors and industry experts, making it a key platform for building valuable connections. Tickets for both in-person and virtual attendance are available on the event website, www.MakeSierraLeoneFamous.com. Virtual attendees will have full access to the livestream, including interactive Q&A sessions.
